Lamar Advertising (NASDAQ:LAMR) Hits New 12-Month High – Here’s What Happened

Lamar Advertising Company (NASDAQ:LAMR) reached a new 52-week high on Tuesday . The stock traded as high as $160.00 and last traded at $159.9650, with a volume of 8088 shares changing hands. The stock had previously closed at $158.01.

Analysts Set New Price Targets

LAMR has been the subject of several research reports. Morgan Stanley set a $145.00 price target on Lamar Advertising in a research report on Thursday, May 7th. Weiss Ratings restated a “buy (b)” rating on shares of Lamar Advertising in a report on Friday, May 22nd. Wells Fargo & Company lifted their target price on shares of Lamar Advertising from $136.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Finally, TD Cowen upped their target price on shares of Lamar Advertising from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $148.00.

Lamar Advertising Trading Up 1.8%

The stock has a market capitalization of $16.32 billion, a price-to-earnings ratio of 29.66 and a beta of 1.19. The company’s 50-day moving average is $150.00 and its 200-day moving average is $137.52. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.33.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.18. The company had revenue of $528.00 million for the quarter, compared to the consensus estimate of $522.86 million. Lamar Advertising had a net margin of 24.01% and a return on equity of 55.53%. Research analysts anticipate that Lamar Advertising Company will post 8.41 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Tuesday, June 16th. Lamar Advertising’s payout ratio is presently 118.08%.

Institutional Investors Weigh In On Lamar Advertising

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tucker Asset Management LLC purchased a new stake in Lamar Advertising in the fourth quarter valued at $25,000. Sound Income Strategies LLC grew its holdings in shares of Lamar Advertising by 151.0% during the 4th quarter. Sound Income Strategies LLC now owns 251 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 151 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Lamar Advertising during the 3rd quarter worth $33,000. Beacon Financial Strategies CORP acquired a new stake in shares of Lamar Advertising during the 4th quarter worth about $35,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of Lamar Advertising during the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Company Profile

Lamar Advertising Company (NASDAQ: LAMR) is one of North America’s largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.